The Rs 650 crore outdoor industry seems to be coming to life again with sectors like insurance, automobiles, financial services and TV channels once again using the outdoor medium to get the attention of consumers.
Among the Insurance players Life Insurance Corporation, Tata AIG, Max New York Life, Birla Sun Life are using the hoarding aggressively. In the automobile sector, there are companies like Hyundai, Fiat, Ford, Tata and Maruti Udyog Limited.
According to the industry sources above mentioned sectors have infused life in the outdoor companies. Insurance is a new market and competitors are fighting it out on the outdoor.
According to the industry estimate, the insurance sector are expected to spend close to Rs 50-60 crore on outdoor advertising in 12 months time. The durables segment has not taken to the outdoors this festival season.
Unlike last few years, garment retailing is growing. With festival season on garment retailer will be the one who will be investing on the outdoor advertising.
According to Aaren Initiative estimates the outdoor industry, was expected to grow at 20 per cent at the beginning of year, but managed to grow only 15 per cent growth rate.